Media Advisory - CFIB available to comment on new details of credit card fee cut
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TORONTO, Nov. 18, 2014 /CNW/ - With Visa and MasterCard both sharing their plans on how to achieve the promised 10% average interchange fee reduction today, the Canadian Federation of Independent Business (CFIB) is available for comment. CFIB's president Dan Kelly and senior vice-president of National Affairs Corinne Pohlmann are both available from Toronto.

On November 4th, the two credit card providers announced a commitment to reduce credit card processing fees and a freeze at those levels for five years. (Note that interchange rates are one of three parts that make up the credit card processing fees paid by merchants.)

CFIB spearheaded the creation of the Code of Conduct for the Credit and Debit Card Industry in 2010, and has continued to lobby the payments industry and the federal government for rate reductions for merchants. Enhancements to the code are also expected in the near future.

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Organization Profile

About CFIB The Canadian Federation of Independent Business (CFIB) is Canada’s largest association of small and medium-sized businesses with 110,000 members across every sector and region. CFIB is dedicated to increasing business owners’ chances of success by driving policy...